Topic: Why is Bitcoin mining not a profitable option right now? - page 2. (Read 1640 times)
Now it is not profitable because Bitcoin mining difficulty is arising so it will take a lot of time to mature the Bitcoins. Even I tried many time to mine Bitcoin but I spend paying for my electricity bill but could not able to mature even 1 Bitcoin after one Month also.
Bitcoin mining is offcourse profitable. People have invested millions of rupees for purchasing miners. Profit from mining totally depends on your miner. If you are using CPU/GPU miner then usually you will get a high electricity bill as compared to mined coins. You can use some good ASIC miners if you really want to have some good profit. You can purchase antminer L3+ to mine litcoin. It will give you 40$-42$ profit per day.
hi,
thanks for the advice, i will start research on litcoins too. i you can suggest me tips and tricks of this mining, that would be too grateful.
my email id is [email protected]
you can mail me some info regarding it, that would be too helpful.
and im planning to buy antiminer s9, please suggest me on this too.
regards
requin
Hello,
Im new to bitcoin and i have been reading a lot in the forum, i just have some questions i hope someone can answer. With graphic card and cpu mining not making you a profit some/most people go with ASIC mining however, if i dont have the capability to buy such hardware. Is there a way that i could mine for btc? I have read about cloud mining but some people said that it is a scam. Please enlighten me with this one? Is it really a scam or is there some legit source for cloud mining?
Thanks,
No. Even if there is a cloudmining site which is legit, it is not worth the risk. 99.9% of these cloud mining sites are ponzis. https://en.wikipedia.org/wiki/Ponzi_schemeIm new to bitcoin and i have been reading a lot in the forum, i just have some questions i hope someone can answer. With graphic card and cpu mining not making you a profit some/most people go with ASIC mining however, if i dont have the capability to buy such hardware. Is there a way that i could mine for btc? I have read about cloud mining but some people said that it is a scam. Please enlighten me with this one? Is it really a scam or is there some legit source for cloud mining?
Thanks,
And yes, if you don't have an asic miner, but you do have a pretty darn good pc, you can use for example http://nicehash.com to mine altcoins, and transfer that into bitcoin.
Modern day miners (1080gtx) earn up to 8$ a day. (2500$ a year), look on the site to see how much your gpu can make daily.
Hello,
Im new to bitcoin and i have been reading a lot in the forum, i just have some questions i hope someone can answer. With graphic card and cpu mining not making you a profit some/most people go with ASIC mining however, if i dont have the capability to buy such hardware. Is there a way that i could mine for btc? I have read about cloud mining but some people said that it is a scam. Please enlighten me with this one? Is it really a scam or is there some legit source for cloud mining?
Thanks,
Im new to bitcoin and i have been reading a lot in the forum, i just have some questions i hope someone can answer. With graphic card and cpu mining not making you a profit some/most people go with ASIC mining however, if i dont have the capability to buy such hardware. Is there a way that i could mine for btc? I have read about cloud mining but some people said that it is a scam. Please enlighten me with this one? Is it really a scam or is there some legit source for cloud mining?
Thanks,
That calculator is confusing to me because it uses something called a "mining factor" instead of varying the difficulty. I like this one better: https://bitcoinwisdom.com/bitcoin/calculator
Bitcoin mining is offcourse profitable. People have invested millions of rupees for purchasing miners. Profit from mining totally depends on your miner. If you are using CPU/GPU miner then usually you will get a high electricity bill as compared to mined coins. You can use some good ASIC miners if you really want to have some good profit. You can purchase antminer L3+ to mine litcoin. It will give you 40$-42$ profit per day.
Bitcoin mining can be profitable, otherwise nobody would do it. You might have heard it is not profitable if you tried doing it with, say, a graphics card, or your laptop processor. That would definitely not be profitable.
Thanks for the reply. I think I will continue with the idea.
I saw few threads in this forum where many messaged saying "Bitcoin Mining is not profitable now".
Usual messages are "Bitcoin Mining is not profitable now if your electricity costs more than X" (I think it's 15 cents, but I am not 100% sure)
Of course that with free electricity and ASIC miner the mining will make you profit.
Just make sure that the electricity is really free. Meaning that if your family pays for it, it's not free; if it's fixed / included in the rent expense, the sudden grow of consumption may not go unnoticed and may be seen as abuse. Any abuse may mean sooner or later you'll have to pay for it. So please make sure you know what you do.
Hi All,
Im a newbie into this Bitcoin Arena, I have been reading about bitcoins from many sources.
I saw few threads in this forum where many messaged saying "Bitcoin Mining is not profitable now".
Can somebody explain me why?
Is it not profitable even if I have free ELECTRICITY and latest ASIC hardware?
Regards
Requin
Im a newbie into this Bitcoin Arena, I have been reading about bitcoins from many sources.
I saw few threads in this forum where many messaged saying "Bitcoin Mining is not profitable now".
Can somebody explain me why?
Is it not profitable even if I have free ELECTRICITY and latest ASIC hardware?
Regards
Requin
The difficulty keep increasing so It's not longer possible to mine using your computer or graphic cards. People keep saying It's not profitable because not everyone have free electricity or the latest mining equipment which costs a lot of money. If you have these, then you should definitely go for it. (you need a good amount of these machines though)
Bitcoin mining can be profitable, otherwise nobody would do it. You might have heard it is not profitable if you tried doing it with, say, a graphics card, or your laptop processor. That would definitely not be profitable.
Hi All,
Im a newbie into this Bitcoin Arena, I have been reading about bitcoins from many sources.
I saw few threads in this forum where many messaged saying "Bitcoin Mining is not profitable now".
Can somebody explain me why?
Is it not profitable even if I have free ELECTRICITY and latest ASIC hardware?
Regards
Requin
Im a newbie into this Bitcoin Arena, I have been reading about bitcoins from many sources.
I saw few threads in this forum where many messaged saying "Bitcoin Mining is not profitable now".
Can somebody explain me why?
Is it not profitable even if I have free ELECTRICITY and latest ASIC hardware?
Regards
Requin
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